If you use your own vehicle for business purposes, you may be able to deduct a percentage of your driving-related expenses from your taxable income. To do so, you'll need to keep an accurate record of ...

70 cents per mile driven for business use (up 3 cents from 2024). 21 cents per mile driven for medical purposes (the same as in 2024). 21 cents per mile driven for moving purposes for qualified active ...

A new year will mean a new, slightly higher standard mileage rate for 2025. The Internal Revenue Service on Thursday announced that the 2025 standard mileage rate will go up by 3 cents per mile to 70 ...

Mileage reimbursement is the process of compensating employees who use their personal vehicle for business purposes. It helps cover car-related expenses like gas, maintenance, wear and tear, and more.

Many drivers do not claim the mileage deduction on their federal income tax returns. Companies that reimburse their employees for mileage driven for business often follow the IRS mileage rate. Most ...

The IRS just released their standard mileage rates for 2026. There was an increase of 2.5 cents from 2025 for the standard business rate, while medical rates decreased slightly Each year, the IRS ...

One fast tax tip to review before filing your 2024 federal income tax return is the IRS mileage rate. It's a much-talked-about deduction, but it's also a tax break that stalls out for plenty of ...

BOSTON, December 29, 2025--(BUSINESS WIRE)--The Internal Revenue Service (IRS) has released the 2026 standard mileage rate for business use of 72.5 cents. This rate is calculated using data from Motus ...

The optional standard mileage rate for automobiles driven for business will increase 3 cents in 2025, the Internal Revenue Service said Thursday, but the mileage rates for vehicles used for other ...

Learning the reporting requirements for mileage reimbursement will help you stay in compliance with IRS rules concerning business deductions. You can use the standard mileage rate for passenger ...